June 30, 2022

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Martin Guzm ஆதn supported the questionable line on “unexpected returns” on the G20: “there are sectors that benefit from extraordinary profits”

Martin Guzman

From Washington, DC – “There are sectors of the economy that benefit from the extraordinary profits of war and there are billions of people in the world who are affected by the effects of rising prices,” the minister said. Martin Guzman G20 Economy Ministers and Central Bank leaders meeting in this capital.

Thus, the head of Palacio de Hacienda supported his announcement Alberto Fernandez As of last Monday, details of the implementation and purpose are not yet known, but this has led to rejections from various departments. According to the report, it will be used to provide bonuses to pensioners, monotributists and informal workers.

“In the G20 we need to find ways to deal with the world’s supply crisis, otherwise it will have lasting and unstable social and political consequences,” Guzman said in a statement sent by his ministry.

“As a global community, we need to find ways to implement policies that will allow our communities to avoid the most reactionary shock.”

The Minister spoke about the supply crisis facing the world. “The world is experiencing a supply crunch today. The increase in inequality has social and political consequences, which persist over time. The world needs changes in the financial structure to prevent unstable debt from undermining the future and growth of nations, ”he stressed.

Swelling

In addition, Guzmn referred to Argentine inflation, which he added to the international context. “The most complex challenge is the problem of inflation, which intensified with the war. Today, inflation has become a global concern,” he said, adding that the country was shortlisted after a 6.7% rise in prices in March and for several years.

File photo of Cristalina Georgieva, Managing Director of the International Monetary Fund, during a press conference in Paris, France.  May 18, 2021. Ludovic Marin / Pool via Reuters
File photo of Cristalina Georgieva, Managing Director of the International Monetary Fund, during a press conference in Paris, France. May 18, 2021. Ludovic Marin / Pool via Reuters

“As a global community, we need to find ways to implement policies that allow our communities to face the most reactionary trauma because if we do not do this, we’re going to see lasting repercussions at the social and societal level. The political situation,” he stressed.

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Then, as always with his own ministry summary (G20 meetings not open to the press), Guzman responded to a concern by Georgieva, who consulted proposals. Policy classifiers In the global context. The Minister also mentioned three:

1 – “Importance of dealing with the international inflation situation. We have experienced a series of complex events worldwide over the past two years. At this point, the epidemic “created a decline in both global supply and demand, thus signifying an international recession without pressure on prices”, creating disruptions in global demand and production chains, which were further eroded. War.

2 – Here he returns with one of his “employees”: the global financial structure and the credit crunch. He made a self-reference to the Argentine restructuring of 2020, saying, “From that experience, I can tell you that the lack of transparency on the part of creditors is one of the most serious problems.” “Improving transparency is essential,” he said, adding that “the Resistance and Sustainability Fund is a step forward.”

The last note on the plan approved by the IMF last week was a plan that Guzman dreamed of “jumping” out of the extended facilities, but to a lesser extent it did not work for local credit.

3 – Flexibility. As Brazilian Economy Minister Paulo Guedes recently said, Argentina and Brazil work very closely, and by working together, we can make a significant contribution to global energy and food security, so I call on the world to watch what happens. Our continent, ”said the Minister. In the context of the immediate energy crisis and the fact that food prices have not stopped rising, he did not elaborate.

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During his second day in the US, Guzmn met with the Secretary-General of the Organization for Economic Co-operation and Development (OECD). Matthias Carmen. Further The chief economist of the organization attended the meeting. Lawrence Boone; And Director of the Center for Tax Policy and Administration, Pascal St. Ammons.

Meetings with the Spanish Minister of Economy and First Vice President, Nadia Calvino; With the Director-General of the French Treasury, Emmanuel Moulin (With the director of South Cone at the IMF, Sergio Sodos; Secretary for International Economic and Financial Affairs, Mia Golodenko; And Deputy Secretary of Finance, Ramiro Dosi), And the South African Minister of Finance, Enoch Godongwana.

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